iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,207 Blog Posts

Blow Off Top Alert: Get Small, Reduce Risk

A few hours ago I blew out of all of my crypto proxy plays, after booking monstrous gains this morning in NCTY and IZEA. Seeing the crypto space getting lit, I opted to avoid the tension and take the path of least resistance and get small.

I blew out of SRAX, NXTD, LC, and NETE. With the proceeds I shorted semis, 3x, via SOXS.

Presently, I am long a sundry of oil stocks, in addition to today’s purchases of RAS and AMCN.

My Quant account is barely down, off by 0.04%. While markets are still moderately strong, seeing the Dow and the S&P reverse lower after a giant early move, I’d rather be cautious here than aggressive, especially after my recent success.

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3 comments

  1. joyous__ending

    Gold is still a good place to be for 2018.

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  2. it is showtime

    Endgame final stage

    They’re
    Not
    Getting
    27 k

    You can’t get it. You’re not gonna get it.
    I – CANT – WAIT – TILL – IT – GETS – STOPPED – BEFORE – 27 – K – GETS – NOTCHED

    I’m not gonna have to see 27dow

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  3. edge

    I went into this AM way long. Started selling early then bought some puts. I wouldn’t be surprised to see sp3000 sometime in March though- this isn’t a normal market- seems to have a floor under it, I’m still net long, thinking next week will tell the tale.

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